Tenneco Automotive posts earnings of $1 million for first quarter

LAKE FOREST, Ill. (April 22)—Tenneco Automotive Inc. reported net income of $1 million during the first quarter compared to a net loss of $2 million during the year-earlier period, before a $218 million cumulative charge for changes in accounting for goodwill. Total sales during the first three months of this year increased 14 percent to $921 million. Tenneco said it realized $6 million in savings during the quarter from its restructuring program and another $6 million related to its Six Sigma programs. Most of Tenneco's rubber-to-metal products are sold into North American markets. The company's North American aftermarket ride control revenue decreased 16.6 percent to $72 million, but its North American original equipment sales in the segment increased 25 percent to $35 million.